Coca-Cola to invest ₹700 crore in new Telangana plant
What's the story
Coca-Cola, the global beverage giant, has announced plans to invest ₹700 crore in a new greenfield plant in Peddapalli district, Telangana.
The plant will be set up by Hindustan Coca-Cola Beverages (HCCB), the company's wholly-owned bottling subsidiary.
This decision was made public after discussions between a ministerial delegation from Telangana, and senior executives from Coca-Cola at its headquarters in Atlanta, United States.
Government support
Telangana government welcomes investment
The Telangana delegation, which includes Industries and IT Minister D. Sridhar Babu and R&B and Cinematography Minister Komatireddy Venkatreddy, engaged in discussions with Head of Fiscal Policy at Coca-Cola, Jonathan Reif.
Babu stated that this decision signifies a, "significant shift of new large-scale manufacturing capacities by multinational companies into the hinterland of the state away from Hyderabad."
He also emphasized Telangana's commitment to supporting expansion initiatives from multinational companies, by providing necessary infrastructure, permissions, utilities, and skilled manpower.
Expansion plans
Coca-Cola's continued efforts in the state
This new investment follows HCCB's recent commencement of commercial production at its ₹1,600 crore manufacturing facility near Hyderabad.
Telangana is home to one of HCCB's largest factories in Ameenpur, which received a ₹142 crore investment for expansion in 2020.
In April 2022, HCCB signed an MoU with the state government committing to invest ₹1,000 crore in another greenfield plant in Siddipet.
The new ₹700 crore investment marks Coca-Cola's third greenfield facility in Telangana.